NEW YORK (NRF 2011 - Booth 659) - VeriFone Systems, Inc. (NYSE: PAY) today announced that Beverages and more! (BevMo!), the leading alcoholic beverage-lifestyle specialty retailer in the western United States, has successfully reduced the scope of its PCI compliance requirements through the implementation of the VeriShield Protect end-to-end encryption solution.
BevMo!, which operates 50 superstores in Northern California, 47 in Southern California and 10 in Arizona, completed the deployment of VeriShield Protect chain wide in 2010, along with VeriFone's MX 860 card acceptance systems deployed at every checkout lane across the chain.
"The VeriFone VeriShield strategy gave us the freedom to re-allocate our capital spending for a 'next generation POS platform versus a compliance-oriented, and expensive upgrade' -- a positive for BevMo!," said BevMo! Chief Financial Officer Dan Carter. "In a nutshell, we were able to un-hook our POS roadmap decision from a PCI requirement-driven agenda and invest our capital on the right POS solution, on our own timeline. Quite a success achieved over a very short period of time!"
VeriShield Protect encrypts cardholder and transaction data the instant it's received - eliminating usable information before it enters POS applications or retailer networks.
"BevMo! realized it would be able to completely remove cardholder data from its servers and network, thus dramatically reducing PCI scope," said Jennifer Miles, VeriFone senior vice president - Retail, Global Security and Vertical Solutions. "BevMo! has shown great leadership in its effort to create a more secure environment for cardholders."
BevMo! considered a range of options to improve PCI compliance, including a POS software upgrade that would have cost in excess of $1 million and provided little more than incremental compliance functionality. With VeriShield Protect's format-preserving VeriShield Hidden Encryption (VHE) the retailer was able to avoid costly changes to its POS systems or back-office infrastructure.
Implementing VeriShield Protect significantly reduces enterprise systems from PCI scope, which lowers management and security costs. In addition, VeriFone's exclusive VeriShield Monitoring & Compliance System (VMCS) monitors the entire process in real time and issues security alerts as needed.
VeriFone Media Relations